Forecast: Value Added of Accommodation and Food Services in Brazil

The Value Added of Accommodation and Food Services in Brazil experienced significant fluctuations between 2013 and 2023. The industry saw a marked growth in the early years, peaking in 2019 with a Year-on-Year (YoY) variation of 8.85%. The onset of the COVID-19 pandemic in 2020 led to a dramatic decline of -25.74%. However, the sector rebounded impressively in the following years, with double-digit growth rates, particularly notable in 2021 with a 20.92% increase. By 2023, the value stood at 179.13 billion Brazilian Reals, reflecting a YoY variation of 10.36% and a Compound Annual Growth Rate (CAGR) over the past five years of 4.27%. Forecasts indicate a steady upward trend, with values projected to reach 218.0 billion Brazilian Reals by 2028, marking a forecasted 5-year CAGR of 3.11% and overall growth of 16.54%.

Future trends to watch for:

• Technology integration and digital transformation within accommodation and food services, enhancing customer experience and operational efficiency.

• Increasing consumer demand for sustainable and eco-friendly hospitality options driving new business models.

• Potential impacts of economic stability and inflation on consumer spending and industry growth.